Purchase Plus Improvements

Does the new home you are going to purchase need some renovations? We help home buyers pay for their renovations, with one manageable mortgage, and as little as 5% down!

Purchase Plus Improvements is for consumers looking to purchase a home that has great potential but needs a little work done. This mortgage program allows you to make improvements immediately after taking possession of your new home and have the costs rolled into one mortgage.

Acceptable Loan Purposes

Purchases up to 95%
Available for amortization periods up to 30 years

Eligible Properties

Maximum four units with at least one unit occupied as the principal residence
New construction or existing properties

The Process

You must find a house and have a good idea of what renovations need to be done and rough idea of how much it will cost.

You then go and get firm price quotes for the work that needs to be done. Make sure the quotes specifically state the work that is to be completed.

We will approve you based on the purchase price and the cost of renovations.

You take possession of your new home and the contractor starts the renovations.

Once the work is completed we will send out a certified appraiser to verify for lender the work has been completed as originally agreed.

The lender will then release the contractor cost to the contractor..